3) Is your no claims bonus protected?

If you don’t claim on your car insurance, you can enjoy a discount on your premium. For every year you don’t claim, this discount gets bigger. If you have accumulated a few years no-claims discount it can result in substantial savings. If that is the case, it may be worth protecting your no-claims discount. This is an extra layer of insurance, which for a small additional premium can help you to keep costs down in future years. Be aware that there may be a limit on the number of claims you can make within a specified period without losing your bonus.

4) next, is a courtesy car included?

If you rely on your car to get to work, take the kids to school, or visit family, a courtesy car may be an essential. If a courtesy car is listed as included, check the details. For example, if you need a seven-seater, make sure you’ll get a similar vehicle whilst yours is being repaired not just a small city-runaround. It’s also worth checking if there is a time limit stipulated. Some repairs can take a long time if you are waiting for a specific part. If there is a limit on your courtesy car, you could be left shelling out extra.

5) Can you choose where you take your car for repairs?

Some insurers specify that any repairs must be carried out at an approved repairer. But that won’t suit everyone. Sometimes you might want your car to be repaired at your preferred dealer. You might want your car to be repaired at your local garage for your convenience. Or if you have a specialist or classic car, you might want to specify that work is carried out by your usual garage.

It’s also worth checking if the repairs have a guarantee attached. For example, are they guaranteed not to fail for 12 months?

6) Check the excess

When you’re comparing quotes for car insurance, make sure you look at the excess. This is the amount you’ll have to pay upfront if you make a claim and usually comprises of two figures. The compulsory excess is set by your insurance company but you can also opt to pay a voluntary excess. Generally, the higher your voluntary excess, the lower your premium will be. Bear in mind that the amount you will pay every time you make a claim is the compulsory excess and the voluntary excess added together. You mustn’t set your voluntary excess too high or you may not be able to afford to pay it.

7) Car insurance checklist for 2020 final tip: What extras do you need?

Finally, when you’re shopping around for car insurance be aware that not every policy will offer the same thing. Items that you may assume are included may not be, so always check the small print or speak to a broker before you sign up. For example, things you might want to consider including are:

• Is cover for personal belongings whilst they are in the car included? For example, your phone or a child’s car seat.
• Sat-Nav cover.
• Windscreen cover
• Loss of keys cover.

8) Buy value for money car insurance you can rely on

Shopping around is one of the best ways to save money on your car insurance. It’s important to compare all the details of each policy so you can be confident that you’re getting a good deal that is suitable for your needs. We hope our car insurance checklist for 2020 will help you find the right policy at a low price. An online comparison website may be a good place to start your search. Alternatively, take the hassle out of searching by using an independent broker like Easy2Insure. We’ll compare policies from the UK’s best insurance companies to find you the right level of cover at the best price. Simply call our friendly team on 0800 917 9522 or get in touch.

2) Are you a hobbyist?

Don’t be fooled into thinking that trader’s insurance is going to be too expensive if you’re a part-time trader or someone who deals in vehicles as a hobbyist. It could cost you a lot less than you think, and can be significantly less than taking out temporary cover when you need it.

Whilst most insurance companies will want you to be able to demonstrate that you are part of the trade for at least some of your working hours, you can hold another occupation too. All you need to prove that you are part of the motor trade is proof, such as receipts. For example, these could be receipts for providing valeting or car repairs. Alternatively, you may have receipts from buying or selling cars. If your business hasn’t started trading yet, you may have a grace period to provide evidence. Speak to your insurance broker for more details.

3) Do you drive sports cars?

If you deal with performance and sports cars, check your policy covers you. Performance vehicles can be excluded from cover, so you’ll need to double-check before you buy or work on that Porsche or Ferrari. If you don’t and you’re not covered, it could prove to be a very expensive oversight.

4) Do you need to add extra drivers?

Adding extra drivers to your policy can be cheaper than taking out separate policies. It’s perfect if you have a partner or employ a team. Like personal car insurance, insuring under 25-year-olds can be expensive. Some insurers may not allow it at all. Speak to your broker for advice or to find an insurer prepared to take on younger drivers.

5) Is the pay-out sufficient?

Some trader’s policies use trade valuations if there is a claim. This pays out the trade value, not the resale value. If you’re buying and selling cars, this might be enough for the majority of vehicles you deal with. But if you’re dealing with classic cars or future classics, this could become a problem. If you need cover for vehicles in your workshop, for example for car repairs or valeting, you could also be faced with a shortfall if something happens to a customer’s car. If you want to be certain that you won’t be left out of pocket, speak to your insurance broker for advice.

6) Do you need cover out on the road?

Thinking carefully about what level of cover you actually need is a great way to get premiums down. If you’re not going to be hitting the road in a vehicle, you don’t need cover out and about. For example, if you’re a detailer and cars are delivered and collected from your business premises, you only need cover in the workshop. On the flip-side, you may only need cover for driving on the road, in which case you can save money by excluding cover within premises. If you need both types of cover, look for a combined policy.

7) Is accidental damage important to you?

Most policies automatically cover against fire and theft. But just like a personal motor policy, taking out comprehensive cover can give you extra peace of mind.

No matter how careful you are, accidents can and do happen even when a car is stationary. For example, you’re working on a customer’s car and a heavy box of tools falls and damages the bodywork. With accidental damage cover, you’ll have peace of mind you can pay for the repairs.

Trader’s insurance checklist for 2020 final tip 8) Do you need breakdown cover?

Finally, does your policy include breakdown cover? Buying it together with your trader’s insurance can mean cost savings, as well as giving you peace of mind you won’t have any unexpected bills. Whether you want to be covered for an accidental misfuel or you need home start, you can take your pick of a choice of breakdown options to suit every budget. If you’re trading cars in Europe, make sure you get overseas breakdown cover included.

9) Buy traders insurance from the experts for peace of mind and great value

It’s Easy2 find the right trader’s insurance when you get in touch with our specialist team. Our low prices and high levels of experience make us one of the UK’s favourite commercial motor insurance providers. Call 0800 917 9522, use this form to get in touch or get a quote today.

We hope you’ve found our trader’s insurance checklist for 2020 useful. We’re part of Park Insurance, the award-winning independent insurance brokers. As a result, we’re the ‘preferred broker’ for many national insurers. This means we can offer approved packages with great benefits and plenty of discounts.

As an online brand, our business costs are typically lower than many of our competitors. This allows us to pass on all the savings directly to our customers. We also operate a dedicated UK-based call centre so we can contact you to check all the details before you purchase a product. That means you’ll have peace of mind that you know exactly what you’re buying, with no nasty surprises in the small print.

Easy2insure is regulated by the Financial Conduct Authority, the UK’s independent watchdog. All of our staff members are CII-qualified and use their expertise and experience to guide you through every detail of your insurance policy.